Travel insurance AVIVA

TateD

Has anyone else had a ridiculous price increase for annual travel insurance from AVIVA?  My quote has increased by 171%.  Surely the amount of people not travelling over the last year has offset the claims of people who have had to claim due to cancellations? £142 last year to £382 this year! 

By contrast Direct Line home insurance has stayed exactly the same! First year ever!

Grumpy_chap

If the renewal price is not to your satisfaction, shop around.

47Revisited

TateD said:

Surely the amount of people not travelling over the last year has offset the claims of people who have had to claim due to cancellations?

You have to take in to consideration the number of people who did not renew their policies & the number of people that did not take out any insurance due to the restrictions on travel.

MattMattMattUK

The travel insurance industry has been hammered over the the last twelve months. Huge payouts, very limited renewals on annual policies, almost no single trip policies taken out.

On top of that the risks of payouts are currently quite high if they cover anything covid related which ranges from medical to people being stuck abroad due to changes to flights, restrictions which stop people returning etc. so it is not surprising that policy costs have increased.

Once Covid is under control internationally and holidays are permitted again the costs will come down. You can shop around, but more importantly you could wait until holidays are actually legal again.

[Deleted User]

TateD said:

By contrast Direct Line home insurance has stayed exactly the same! First year ever!

Which is what you would expect when on one hand, everyone is claiming on their travel insurance while simultaneously staying at home at day, reducing burglaries by a massive amount.

Thrugelmir

TateD said:

£142 last year to £382 this year! 

How much do you spend on your annual holidays? 

Aylesbury_Duck

TateD said:

Has anyone else had a ridiculous price increase for annual travel insurance from AVIVA?  My quote has increased by 171%.  Surely the amount of people not travelling over the last year has offset the claims of people who have had to claim due to cancellations? £142 last year to £382 this year! 

By contrast Direct Line home insurance has stayed exactly the same! First year ever!

Surely if lots of people haven't travelled, lots of those people haven't paid for travel insurance, so if all insurers have had is more claims and fewer new policies, they're much worse off?

Travel insurance is not comparable to home insurance, and I'd expect providers of the latter to have had far fewer burglary claims than usual.

Maybe Aviva don't want your custom and they've priced accordingly.  Insurers risk-rate customers and if you're not someone who fits their preferred risk profile, they'll load the premium accordingly.